118th Congress Finance and Financial Sector
H.R. 3244: Stop Fentanyl Money Laundering Act of 2023
Reported
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill expands efforts to prevent money laundering related to international fentanyl and narcotics distribution.
The bill allows the Department of the Treasury to impose restrictions on an entity or activity determined to be of primary money-laundering concern in connection with illicit fentanyl and narcotics trafficking. Specifically, if Treasury determines that a foreign financial institution, class of transaction, or type of account is of such concern, Treasury may require domestic financial institutions and agencies to take special measures, such as reporting certain financial transactions involving that entity or activity.
The Financial Crimes Enforcement Network (FinCEN) must issue advisories to financial institutions about how to identify Chinese money laundering that facilitates the trafficking of fentanyl and other synthetic opioids. FinCEN must also issue guidance to financial institutions for filing suspicious transaction reports related to suspected narcotics trafficking by transnational criminal organizations.
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The Government Accountability Office must report on the implications of the Department of State designating Mexican drug cartels as foreign terrorist organizations.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Garland Barr R-KYOriginal
- Young Kim R-CAOriginal
- Zachary (Zach) Nunn R-IAOriginal
- Brittany Pettersen D-CO
- Michael Lawler R-NY
- Nicolas LaLota R-NY
- Daniel Meuser R-PA
- Mónica De La Cruz R-TX
Who scored on this bill
- 1Blaine Luetkemeyer SponsorIntroduced, drew cross-party cosponsors, reported, discharged4 events+50
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Introductions and cosponsorships count toward weekly caps and show no points.
Other bills by Blaine Luetkemeyer
History
- Introduced in the House by Blaine Luetkemeyer.
Show the full action history (8 actions)
- Committee on the Judiciary discharged.
- Placed on the Union Calendar, Calendar No. 780.
- Reported (Amended) by the Committee on Financial Services. H. Rept. 118-783, Part I.
- House Committee on the Judiciary Granted an extension for further consideration ending not later than Dec. 19, 2024.
- Committee Consideration and Mark-up Session Held
- Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 49 - 0.
- Introduced in House
- Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.